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Daily Archives: June 5, 2015

Cigarettes Drop in Price

Cigarettes Drop in Price

Recently the most popular cigarettes in Georgia “Winston” and “Kent”  have got  cheaper  by  20-30 tetri. This occurs despite the fact that the cigarettes price in theory should go up because of the increase of various taxes. In particular, since January  1, 2015 the excise tax on tobacco products has …

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IMF Representative Responds to Bidzina Ivanishvili

IMF Representative Responds to Bidzina Ivanishvili

In response to press inquires, Mr. Azim Sadikov, IMF Resident Representative in Georgia,  has disseminated the following comment: “The International Monetary Fund has not taken, and cannot take a view on the issues related to justice and individuals’ relation with the law. This is not our mandate. In its dialogue with …

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Georgia Celebrates the Birthday of Britain’s Queen Elizabeth II

Georgia Celebrates the Birthday of Britain’s Queen Elizabeth II

Georgia is celebrating the birthday of the Queen of the United Kingdom and Commonwealth nations, Her Majesty Queen Elizabeth II. A festive event was hosted by the British Embassy in Georgia yesterday that commemorated the 62ndbirthday of Queen Elizabeth II. The celebration was attended by Georgian officials and friends of the …

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Novosibirsk – Eighth Russian City Where Georgia will Perform Flights

Novosibirsk – Eighth Russian City Where Georgia will Perform Flights

Georgian Airways is starting multiple charter flights to Russia. Georgia’s national carrier will link capital Tbilisi to Russia’s third largest city Novosibirsk from June 14. Novosibirsk is the eighth Russian city where flights will be carried out from Georgia, announced Georgia’s Ministry of Economy. Negotiations to resume a flight service between …

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Georgian Troops Participate in NATO Baltic Sea Drills

Georgian Troops Participate in NATO Baltic Sea Drills

Georgian soldiers are serving shoulder-to-shoulder with military servants from 17 countries in a United States-led NATO naval exercise in the Baltic Sea. This year with 14 NATO allies Georgia, Finland and Sweden are debuting in the Baltic Sea naval drills as part of the BALTOPS exercise, taking place from June …

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Business to be Gradually Exempt from Income Tax

Business to be Gradually Exempt from Income Tax

The abolition of income tax for business will happen gradually. In this regard, the government will consider the Estonian model. Answering the question  asked by “CBW”,  Finance Minister  Nodar Khaduri  said they  are working on the abolition of income tax, however, it will not be abolished  directly as  income tax …

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Government Must Ensure NBG’s Independence — IMF

National Bank Expects the Exchange Rate to Stabilize in the Near Future

In response to press inquiries, Mr. Azim Sadikov, IMF Resident Representative in Georgia has disseminated the following comment: The International Monetary Fund has not taken, and cannot take a view on the issues related to justice and individuals’ relation with the law. This is not our mandate. In its dialogue …

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PASHA Bank Issues the Term Loan Facilities to GWP and RWC

pasha-bank-gwp

PASHA Bank issued term loan facilities to Georgian Water & Power and Rustavi Water Company of GEL 12.5 million  and GEL 10 million respectively.  Combined exposure of the Bank to the borrower’s parent company, Georgian Global Utilities, amounts to GEL 22.5 million. The borrowers are regulated water utilities serving Tbilisi …

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